TCW Group Inc. Sells 16,792 Shares of JPMorgan Chase & Co. (NYSE:JPM)

Key Points

• TCW Group Inc. reduced its stake in JPMorgan Chase & Co. by 3.2%, now holding 503,594 shares valued at $123.53 million.
• JPMorgan's stock has seen a 2.4% drop, with a current market price of $289.21 and a market cap of $803.74 billion.
• The company recently declared a quarterly dividend of $1.40 per share, which translates to an annual yield of 1.9%.

TCW Group Inc. trimmed its holdings in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 503,594 shares of the financial services provider's stock after selling 16,792 shares during the quarter. JPMorgan Chase & Co. accounts for about 1.1% of TCW Group Inc.'s portfolio, making the stock its 25th biggest holding. TCW Group Inc.'s holdings in JPMorgan Chase & Co. were worth $123,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JPM. Brighton Jones LLC increased its holdings in JPMorgan Chase & Co. by 11.0% in the fourth quarter. Brighton Jones LLC now owns 48,732 shares of the financial services provider's stock worth $11,682,000 after buying an additional 4,841 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in JPMorgan Chase & Co. by 0.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 192,182 shares of the financial services provider's stock worth $46,068,000 after purchasing an additional 1,229 shares during the period. Highview Capital Management LLC DE raised its stake in JPMorgan Chase & Co. by 16.1% during the fourth quarter. Highview Capital Management LLC DE now owns 13,623 shares of the financial services provider's stock worth $3,266,000 after acquiring an additional 1,893 shares in the last quarter. KKM Financial LLC increased its stake in shares of JPMorgan Chase & Co. by 3.9% in the fourth quarter. KKM Financial LLC now owns 16,854 shares of the financial services provider's stock valued at $4,040,000 after buying an additional 640 shares in the last quarter. Finally, Meridian Investment Counsel Inc. increased its position in JPMorgan Chase & Co. by 29.1% in the fourth quarter. Meridian Investment Counsel Inc. now owns 8,787 shares of the financial services provider's stock worth $2,106,000 after purchasing an additional 1,982 shares during the period. 71.55% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $250.00, for a total value of $2,375,000.00. Following the transaction, the director directly owned 91,539 shares of the company's stock, valued at approximately $22,884,750. This trade represents a 9.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Stacey Friedman sold 2,821 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the sale, the general counsel directly owned 68,757 shares in the company, valued at approximately $18,269,422.47. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,200 shares of company stock worth $18,060,015. 0.47% of the stock is currently owned by corporate insiders.

JPMorgan Chase & Co. Price Performance

JPMorgan Chase & Co. stock traded down $7.03 during midday trading on Friday, hitting $289.21. 12,005,470 shares of the company's stock were exchanged, compared to its average volume of 9,328,257. JPMorgan Chase & Co. has a 52-week low of $190.90 and a 52-week high of $301.29. The stock has a 50-day moving average price of $281.04 and a two-hundred day moving average price of $261.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The company has a market cap of $803.74 billion, a P/E ratio of 14.84, a PEG ratio of 1.94 and a beta of 1.11.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last released its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share for the quarter, beating analysts' consensus estimates of $4.48 by $0.48. The company had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. JPMorgan Chase & Co.'s revenue for the quarter was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.12 EPS. On average, equities research analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current year.

JPMorgan Chase & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 3rd were paid a $1.40 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $5.60 annualized dividend and a dividend yield of 1.9%. JPMorgan Chase & Co.'s dividend payout ratio is presently 28.73%.

Analysts Set New Price Targets

A number of brokerages have issued reports on JPM. Wall Street Zen upgraded JPMorgan Chase & Co. from a "sell" rating to a "hold" rating in a report on Wednesday, May 14th. TD Securities reissued a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, June 4th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a research report on Monday, July 7th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley increased their price target on JPMorgan Chase & Co. from $296.00 to $298.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, JPMorgan Chase & Co. presently has an average rating of "Moderate Buy" and an average target price of $288.68.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.